Irish Insolvency Service Soon Open for Business

This week the the director of The Insolvency Service of Ireland (ISI) , Lorcan O’Connor , updated the Oireachtas Joint Committee on Finance, Public Expenditure and Reform on the latest ISI progress and targets.

He told them that he expects the ISI to be in a position to accept applications from the public in mid-August, ( five months after the establishment of the service).

Applications to become Personal Insolvency Practitioners (PIPs) and Approved Intermediaries (AIs) are already being processed and they will be authorising some by the end of July. People will then be able to meet authorised practitioners straight away.

The Insolvency Service’s IT system is still not fully operational. By the 19th July complete end-to-end testing of IT systems is due to start and will involve involving MABS, potential PIPs and the Courts Service.

There are still some provisions of the Personal Insolvency Act that have not being signed into Law .

The ISI expect that the first Debt Relief Notices (DRN) will not be issued until early September 2013 . It will be Septyember too before the first Protective Certificates will be issued ( These will cover people applying for a Debt Settlement Arrangement (DSA) or a Personal Insolvency Arrangement (PIA).